2016 (10) TMI 973

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....dent : Standing Counsel,A.N.Mahajan,B.J.Agrawal,C.S.C. ORDER 1. Heard Sri R.B. Shukla, learned counsel for appellant and perused the record. 2. Present appeal under Section 260-A of the Income Tax Act, 1961(hereinafter referred as 'Act') has been filed against judgment of Income Tax Tribunal , Agra Bench, Agra(hereinafter referred as 'Tribunal") in ITA No. 100/Agra/2001 dated ....

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....ter dated 8.4.1999 while making prima facie adjustment under section 143(1)(a) of the Act. 3. Whether on the facts and in the circumstances of the case the Appellate Tribunal was legally justified in upholding the taxability of the capital gains in respect of said asset in A.Y. 1995-96 de hors the proviso to sub-section (4) of section 54F of the Act that permits assessment of capital gain....

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....e same has been reversed by Tribunal vide impugned judgment and order by allowing appeal preferred by Revenue. Hence this appeal before this Court. 6. There was an agreement for purchase of land which was not carried out and matter was taken to Court, where parties entered into settlement for transfer of plot. Fact remains that no legal document having effect of transfer of immovable property w....